Beyond sales gimmick: How Bangladesh can expand its green market
While there are obstacles to achieving an eco-friendly industry, Bangladesh can use the power of green marketing to achieve a more sustainable future by addressing these issues through education, legislation and partnership
Bangladesh, known for its cultural diversity and economic potential, is dealing with a significant shift in consumer behaviour brought on by a global eco-conscious movement. As the world faces the increasing threat of climate change, Bangladeshi consumers are becoming more aware of their involvement in reducing environmental damage.
This awakening crosses generational and economic lines and is creating a communal consciousness that calls for a reevaluation of commercial practices. As a result, green marketing has developed as a critical approach for Bangladeshi enterprises. With insights from local experiences, this essay discusses the obstacles faced, problems encountered, and ideas for charting a sustainable route forward in the field of green marketing in Bangladesh.
At its core, green marketing is a complete idea that encourages firms to examine their environmental footprint while preserving profitability. It requires a comprehensive approach that includes everything from sustainable raw material sourcing to biodegradable packaging.
In Bangladesh, the transition to green consumption has both promise and risks. Green marketing promises higher customer engagement. When a company's identity is aligned with environmental stewardship, it offers a lifestyle and a product that appeals to consumers who value ethical consumption.
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In a congested market, an eco-friendly label can be a competitive differentiation which allows enterprises to set higher pricing and promote brand loyalty. Transitioning to green practices, on the other hand, frequently results in additional expenses and complexity in business operations. Increased production costs and investments in sustainable product development can increase retail prices, thus alienating price-sensitive market segments.
Greenwashing—misleadingly promoting things as ecologically friendly—is a real threat. This miscalculation can be extremely damaging to a company's reputation.
Despite the growing awareness of green marketing in Bangladesh, several critical problems remain. A sizable segment of the population, particularly in rural regions, is either oblivious or dubious about the environmental effects of their consumption habits. This lack of awareness is a considerable impediment. The lack of specific rules and laws governing green marketing muddies the waters even more.
This legal vacuum allows businesses to exploit loopholes or participate in greenwashing without fear of repercussions. Companies that embrace sustainable practices frequently face higher production costs. This can lead to increased retail pricing which may deter price-sensitive customers.
The scarcity of green infrastructure, such as recycling facilities and sustainable supply chains, creates operational obstacles for organisations that want to be environmentally friendly. Consumers must be educated about the benefits of green products and the importance of sustainable consumption.
Pran-RFL Group, for example, has adopted green marketing ideas by creating sustainable packaging solutions for several of its products, including its popular juice items. This shift to eco-friendly packaging resonates with consumers increasingly worried about plastic waste and its environmental impact.
Pran-RFL's sustainable packaging activities demonstrate the effect of green marketing on consumer behaviour. By switching to eco-friendly packaging, the corporation meets consumer expectations while demonstrating a genuine commitment to environmental stewardship. This illustrates how green marketing may influence positive consumer impressions and involvement.
On the other hand, Bata Bangladesh, a well-known footwear brand, has responded to the growing demand for environmentally friendly products by launching an "Eco-Friendly" line of shoes. These sneakers have eco-friendly components like recycled rubber soles and organic cotton uppers. In its marketing initiatives, Bata actively highlights the lower environmental footprint of these items.
Bata's "Eco-Friendly" shoe collection reflects Bangladeshi consumers' changing desires for environmentally friendly solutions. Beyond simply meeting this demand, the company uses green marketing to differentiate itself in a crowded market. It graphically demonstrates how green marketing can be used to develop a distinct sales strategy and attract environmentally conscious customers.
In addition, Grameenphone, a major telecommunications firm in Bangladesh, has committed to carbon neutrality. They have made significant investments in renewable energy sources such as solar panels to power their operations. Furthermore, they actively convey their sustainability commitment through numerous marketing platforms, stressing their efforts to reduce their carbon footprint.
Grameenphone's carbon-neutral activities push green marketing beyond product-focused initiatives. By emphasising environmental responsibility, the corporation connects with environmentally sensitive customers and demonstrates corporate citizenship. It underscores the necessity for incorporating sustainability into a company's fundamental principles and operations, showing that it can be a powerful marketing tool.
A multi-pronged approach is required to handle some of the hurdles and promote the growth of green marketing in Bangladesh:
Launch extensive consumer education programs to promote knowledge about the environmental effect of consumer decisions and the advantages of green products.
Create clear and enforceable rules and regulations governing green marketing techniques. This approach should combat greenwashing and offer firms clarity.
Provide incentives and subsidies to mitigate the early cost constraints and encourage enterprises to adopt sustainable practices.
Invest in green infrastructure, such as recycling facilities and long-term supply chains, to help shift to green practices.
Encourage coordination among government agencies, industry and civil society organisations to provide a coherent strategy for green marketing.
Companies should embrace transparency in their green marketing initiatives. Building customer trust requires accurate labelling and accessible information about environmental effects.
In Bangladesh, green marketing is a transformative opportunity that corresponds to the country's growing consumer behaviour and socioeconomic factors. While there are obstacles and dangers, they are not insurmountable. Bangladesh can use the power of green marketing to achieve a more sustainable future by addressing these obstacles through education, legislation and partnership.
Influencing consumer behaviour toward more sustainable choices represents a game-changing opportunity that should not be passed up. Companies that successfully transition to truly sustainable business models will win market share and contribute to a cultural revolution that may have far-reaching consequences for Bangladesh's corporations and environment. The road ahead may be difficult, but journeying for a greener, more sustainable Bangladesh is worthwhile.
Dr Mohammad Shahidul Islam is an Assistant Professor of Marketing at BRAC Business School, BRAC University.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard.
